Notes to SEFA
Title: Note 2 - Program Costs
Accounting Policies: The Housing Authority prepares the Schedule of Expenditures of Federal Awards on the same basis of accounting as the Housing Authoritys financial statements. The Housing Authority uses the accrual basis of accounting for all programs receiving federal financial assistance.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority of Grant County has not elected to use the 10% de minimis indirect cost rateallowed under Uniform Guidance.
The amounts shown as current year expenditures represent only the federal portion of the program costs. Entire program costs, including the Housing Authoritys portion, may be more than shown.
Title: Note 4 - Federal Loans
Accounting Policies: The Housing Authority prepares the Schedule of Expenditures of Federal Awards on the same basis of accounting as the Housing Authoritys financial statements. The Housing Authority uses the accrual basis of accounting for all programs receiving federal financial assistance.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority of Grant County has not elected to use the 10% de minimis indirect cost rateallowed under Uniform Guidance.
The amounts listed for the following federal loans include loan proceeds received during the year and the outstanding loan balances from prior years: USDA-RD, Esperanza Housing Development $1,475,452; USDA-RD, Esperanza Housing Development $1,750,169; USDA-RD, Esperanza Housing Development $1,200,000; USDA-RD, Esperanza Housing Development $756,478; USDA-RD, Beverly Lane Apartments $122,703; USDA-RD, Karen Lane Apartments $80,199